The Euribor is something of a safety valve for Europe’s property sectors, setting an average rate of interest payments across most of the Eurozone based on how the economies are performing. The European Central Bank, spooked by recent financial blips across Europe, is expected to continue to hold the Euribor rate below zero until at least 2019.Most Spanish mortgages are pegged to the Euribor, which in September dipped to -0.057% – the eighth-straight month of negative rates. Normally, such sustained low interest rates would only be deemed viable for short periods at a time, and are generally introduced to help stimulate national markets.But just like how Germany’s export-based economy benefited for years from the low euro, Spain’s property market is now set to reap the gains of low interest rates as standard across Europe. Spain’s property market is one of the more dynamic in the Eurozone, and certainly the most popular among foreign – chiefly British – buyers, who are being offered favourable terms when purchasing a home in Spain.With the Euribor even expected to plunge to perhaps -1 per cent in 2018, monthly repayments on mortgages could become even lower, which in turn will only turn heads towards the Spanish property market.Spain’s banks, on the other hand, have to be wary. While adding more mortgage customers will be welcomed, to do so at continued low interest rates could have a long-term impact on their own profitability, causing them to tighten lending in a few years’ time.However, having been through the mill with the Spanish real estate sector in recent years, most sensible banks will be keeping a close eye on the near future to ensure the market does not overheat but, instead, grows sensibly and solidly – as it has been doing since the beginning of 2014.